- Trump’s WLFI crypto coin launches with strong initial demand, selling over 220 million tokens to more than 1,700 unique wallets within the first 20 minutes.
- The WLFI token is the governance token for the DeFi platform, enabling investors to borrow, lend, and earn interest, but it is non-transferable and does not generate any yield.
- The DeFi project, fronted by Eric Trump, aims to raise $300 million and become a global one-stop shop for DeFi, competing with established platforms like Uniswap.
Donald Trump‘s new crypto project World Liberty Financial (WLFI) has launched its token sale. The public sale started today and was open exclusively to accredited investors who qualified through a whitelist process.
Token Sale Quickly Sells Out
The project sold over 220 million tokens to more than 1,700 unique wallets within the first 20 minutes. Despite website outages during the rollout, nearly 2,900 investors managed to acquire 344 million tokens within the first hour.
Sale Limited to Accredited US Investors
Due to regulatory constraints in the US, the sale is limited to accredited investors as defined by the Securities and Exchange Commission (SEC). To qualify, investors must have a net worth over $1 million (not counting their home) or an annual income of at least $200,000 ($300,000 with a spouse) for the past two years.
WLFI Coin Details
The WLFI coin is the governance token for the DeFi platform which enables investors to borrow, lend and earn interest. Trump and his team have set a goal of raising $300 million, with 100,000 accredited US investors already whitelisted ahead of the launch.
The WLFI token stands apart from traditional cryptocurrencies like Bitcoin because it is non-transferable and doesn’t generate any yield. Moreover, 63% of the total token supply is reserved exclusively for accredited investors, restricting access to a select group.
The DeFi project is fronted by Eric Trump, Donald Trump’s son, and was first announced in August. Eric Trump referred to World Liberty Financial as “digital real estate”, positioning the Ethereum-based project as an ambitious competitor in the DeFi space.
